Bankruptcy & Liquidation
Insolvency, protective settlement and liquidation proceedings aligned with your interests.
A complete advisory and legal package under the bankruptcy and liquidation regime — protective settlement, administrative, voluntary and judicial liquidation — handled to best practice and in your interest.
Our services include
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Bankruptcy Proceedings
Preparing, filing and pursuing bankruptcy cases before the competent judicial bodies.
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Representation Throughout
Acting for the client in all bankruptcy procedures and supervising their execution.
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Voluntary Liquidation
Concluding voluntary liquidation through the Ministry of Commerce and related authorities.
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Liquidation Management
Inventory and sale of assets and distribution of proceeds under the applicable regulations.
The Routes Available
Protective settlement
A route aimed at rescuing the business before it collapses, by agreeing a rescheduling of obligations with creditors under the supervision of the competent authority.
Financial restructuring
Rearranging debt, security and capital outside insolvency proceedings, where the distress is temporary and the business remains viable.
Voluntary liquidation
Winding up by shareholder resolution, appointing a liquidator and completing the procedures before the Ministry of Commerce and Industry through to deregistration.
Judicial liquidation
Liquidation by court order, and the conduct of it — from inventory of assets through to distribution among those entitled.
Declaration of bankruptcy
Bringing or defending bankruptcy proceedings and conducting them under the Commercial Law promulgated by Law No. 27 of 2006.
Acting for creditors
Proving debts, intervening in the bankruptcy estate, and defending a creditor’s priority and position in the distribution.
What We Handle
- Assessing the distress and the options
- Negotiating with creditors and banks
- Bringing and defending bankruptcy claims
- Appointment and supervision of liquidators
- Inventory, valuation and sale of assets
- Proof of debts and ranking of claims
- Challenging transactions in the suspect period
- Deregistration and closing out obligations
How We Work
- 01
Early diagnosis
We start by establishing whether the distress is temporary or structural — the answer determines everything that follows, and many companies ask to be liquidated when they only need restructuring.
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Protecting the position
Stopping the bleed of new obligations, reviewing transactions that may later be challenged, and alerting management to its duties at this stage.
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Negotiating with creditors
Building a realistic repayment proposal and putting it to creditors — a considered settlement usually returns more to a creditor than liquidation does.
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The formal route
Commencing settlement, liquidation or bankruptcy proceedings before the competent authority and representing the client through to conclusion.
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A clean close
Completing distribution, deregistration and the discharge of obligations, so nothing trails the shareholders after the business ends.
Frequently Asked Questions
What is the difference between bankruptcy and liquidation? +
Liquidation ends a company’s activity and distributes what it owns and owes; it may be voluntary by shareholder resolution or ordered by a court. Bankruptcy is a regime for a trader who has stopped paying debts, declared by court judgment and carrying its own consequences. Not every liquidation is a bankruptcy.
My company is in distress — is liquidation the answer? +
Not always. Where the business remains viable and the distress is a temporary liquidity problem, restructuring or a protective settlement may serve shareholders and creditors better. We diagnose before we recommend.
I am a creditor and my debtor is heading for bankruptcy — what should I do? +
Act early. A creditor who documents the debt and intervenes in the proceedings in good time is in a far better position than one who waits. We handle proof of debt, intervention in the estate, and defence of your priority in the distribution.
Are shareholders liable for the company’s debts? +
As a rule, a shareholder in a limited liability company is liable to the extent of their share, but there are circumstances in which a manager or shareholder bears personal liability depending on the conduct and the facts. That is why we review conduct during the period of distress specifically.
How long does liquidation take? +
It depends on the type of liquidation, the number of creditors, the nature of the assets and whether disputes are running. We give an estimate once the position is mapped; a general figure would be misleading.
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